I don't see why this would be any different than CC miles. Presumably Bask pays for the miles like any other partner.

I love Bask Bank -> AA miles. Since opening an account with BB, I have already redeemed a bunch of F/J lie-flat tickets based on the miles earned from the account.

I like the idea of Bask, but it's hard to give up 8.25% cash to get 1% in miles.

I'm listening. Is this a high interest rewards checking or something else?

BlockFi Interest Account. Invested as USDC stablecoin that’s pegged to the dollar so always 1:1. Current interest is 8.25%. They make over-collateralized crypto loans to other businesses who need it for short term purposes.

No exposure to market crypto, but no FDIC/SIPC insurance.

I understand that with the new AA loyalty points change the Bask Bank points counting are not yet confirmed ? If they are , it says it is awarded on a monthly basis. Could a person put in $2.5m for a month and get 200K LP and call it a day and get EXP ?

A person with $2.5MM to drop in a savings account for a month wouldn't care about EXP status.

They aren't yet confirmed.

I'm not so sure and I think it's a good idea. Say you sell your house or business or you're between investments. Park it there for a month, get EXP, and then reinvest/pay for the new house/pay back your margin, etc.

Exactly what I was thinking.

How many people do you believe own $2.5MM+ houses that would have a month gap between sale and new ownership? You're talking about fractions of 1% of the US.

The opportunity cost for that is huge. Investing it and making 4% for a month would be $8,333. That's likely far beyond any benefit for getting "EXP Lite."

Sure - but that fraction of 1% is way overrepresented on FT.

4% interest? Today?

While the Bask Account Agreement https://www.baskbank.com/sites/defau...isclosures.pdf was revised in 9/21 (prior to the new program design), it provides that "The miles awarded through the Bask Mileage Savings are considered to be “purchased” under the AAdvantage® program and are not eligible to contribute to an upgrade in your AAdvantage® program status." (at page 19). The "purchased" language differs from the "Buy, Gift, and Transfer transactions" exclusion in the FAQs of the new program, but still may provide some insight into intent regarding award of loyalty points. Does anyone have a previous version of the Bask Account Agreement to compare language?

Looks like Rev. 07/2020 from the web archive says the same thing.

That sounds like CYA language on BB's part. If AA wants miles earned from BB to count as Loyalty Points, I can't imagine that BB would object.

8.25% now, 9% next month. Tradeoff is no FDIC/NCUA insurance, but also no market volatility. Essentially funding over-collateralized short-term business loans.

I've had a part of my emergency fund in it for more than a year. Pays on time, every month, and I can withdraw any time I want (no locking of funds) via ACH or wire.